美的集团：2022年第三季度报告（英文）.PDF

Interim Report for the Third Quarter 2022 of Midea Group Co.,Ltd.1 Stock code:000333 Stock name:Midea Group Announcement No.:2022-097 Midea Group Co.,Ltd.Interim Report for the Third Quarter 2022 Midea Group Co.,Ltd.(hereinafter referred to as the“Company”)and all the members of the Companys Board of Directors have warranted that the information given in this Report is true,accurate and complete,as well as free of any false record,misleading statement or material omission.Important Reminders:1.The Board of Directors,the Supervisory Committee as well as all the directors,supervisors and senior management staff of the Company have warranted that this Report contains no false record,misleading statement or material omission.And they shall be jointly and severally liable for the truthfulness,accuracy and completeness of the information given in this Report.2.The legal representative,principal in charge of accounting and head of the accounting department of the Company have represented and warranted that the financial information in this Report is true,accurate and complete.3.Is this Report audited by a CPA firm?Yes No This Report has been prepared in both Chinese and English.Should there be any discrepancies or misunderstandings between the two versions,the Chinese version shall prevail.Interim Report for the Third Quarter 2022 of Midea Group Co.,Ltd.2 1.Key financial information 1.1 Major accounting data and financial indicators Does the Company adjust retrospectively or restate accounting data of previous years?Yes No July-September 2022 YoY Change(%)January-September 2022 YoY Change(%)Operating revenue(RMB000)87,705,744 0.20%270,366,753 3.45%Net profit attributable to shareholders of the Company(RMB000)8,474,425 0.33%24,469,921 4.33%Net profit attributable to shareholders of the Company before non-recurring gains and losses(RMB000)8,374,107 5.63%24,065,619 6.65%Net cash flows from operating activities(RMB000)29,472,352 5.65%Basic earnings per share(RMB/share)1.25 0.81%3.59 5.28%Diluted earnings per share(RMB/share)1.24 0.81%3.58 5.60%Weighted average ROE(%)6.46%-0.84%18.36%-1.15%30 September 2022 31 December 2021 Change(%)Total assets(RMB000)417,453,076 387,946,104 7.61%Net assets attributable to shareholders of the Company(RMB000)139,231,869 124,868,124 11.50%Notes:Profit from operation was RMB9.98 billion during the three months ended 30 September 2022,representing a year-on-year increase of 14.3%,and that for the nine months ended 30 September 2022 was RMB28.84 billion,representing an increase of 10.9%from a year ago.Profit from operation is operating profit less investment income and gains/losses on changes in fair value.The Companys five business segments,namely the Smart Home Business Group,the Industrial Technology Business Group,the Building Technologies Division,the Robotics&Automation Division,and the Digital Innovation Business recorded revenue of RMB186.2 billion(up 1.70%year-on-year),RMB17 billion(up 14.84%year-on-year),RMB17.9 billion(up 22.65%year-on-year),RMB19.5 billion(up 5.72%year-on-year),and RMB8.1 billion(up 37.30%year-on-year)respectively during January-September 2022.1.2 Non-recurring gains and losses Applicable N/A Unit:RMB000 Interim Report for the Third Quarter 2022 of Midea Group Co.,Ltd.3 Item July-September 2022 January-September 2022 Note Gain or loss from disposal of non-current assets -20,859 1,297 Except for effectively hedging business related to normal business operations of the Company,gain or loss arising from the change in the fair value of financial assets held for trading,derivative financial assets,financial liabilities held for trading,derivative financial liabilities,and other non-current financial assets,as well as investment income or loss produced from the disposal of the aforesaid financial assets and liabilities -241,045 -675,386 Other non-operating income and expenses except above-mentioned items 316,391 1,088,768 Less:Corporate income tax -56,616 -26,521 Minority interests(after tax)10,785 36,898 Total 100,318 404,302 -Particulars about other items that meet the definition of non-recurring gain/loss:Applicable N/A No such cases for the Reporting Period.Explain the reasons if the Company classifies an item as a recurring gain/loss item,which is enumerated as a non-recurring gain/loss in the:Applicable N/A No such cases for the Reporting Period.1.3 Major changes of main items in financial statements and financial indicators,as well as the reasons for the changes Applicable N/A Unit:RMB000 Financial statement items(consolidated)30 September 2022/January-September 2022 31 December 2021/January-September 2021 Change(%)Reasons for the changes Financial assets held for trading 3,521,607 5,879,202 -40.10%Mainly due to the decreased structured deposits Derivative financial assets 734,757 545,865 34.60%Mainly due to the changes in the fair value of derivative financial instruments Loans and advances 14,075,276 21,508,527-34.56%Mainly due to the changes in the operations of the finance business Other receivables 2,135,800 3,104,065 -31.19%Mainly due to the decreased receivables and advances for others Interim Report for the Third Quarter 2022 of Midea Group Co.,Ltd.4 Current portion of non-current assets 40,335,141 19,851,577 103.18%Mainly due to the acquisition of fixed-income products with a maturity of over one year Other current assets 51,672,375 33,156,012 55.85%Mainly due to the acquisition of fixed-income products with a maturity of over one year Other debt investments 10,703,172 7,893,935 35.59%Mainly due to the increased large-denomination negotiable certificates of deposit Construction in progress 3,988,108 2,690,930 48.21%Mainly due to the increased construction in progress Short-term borrowings 8,758,645 5,381,623 62.75%Mainly due to the increased borrowings Derivative financial liabilities 369,139 157,602 134.22%Mainly due to the changes in the fair value of derivative financial instruments Current portion of non-current liabilities 1,691,493 28,947,540 -94.16%Mainly due to the repayment of borrowings Long-term borrowings 55,483,504 19,734,020 181.16%Mainly due to the increased borrowings Deferred income 1,742,904 1,228,459 41.88%Mainly due to the increased government subsidies received Other comprehensive income 573,069 -1,758,948 132.58%Mainly due to the changes in differences on translation of foreign currency financial statements Interest costs 35,457 76,088 -53.40%Mainly due to the changes in the operations of the finance business Financial expenses -2,110,455 -3,349,461 36.99%Mainly due to the increased exchange losses Investment income 862,732 1,999,228 -56.85%Mainly due to the decreased investment income derived in the period of holding financial assets held for trading Losses on disposal of assets -3,640 57,969 -106.28%Mainly due to the increased losses on disposal of non-current assets Non-operating expenses 71,626 139,501 -48.66%Mainly due to the decreased donation expenditures Net cash flows from investing activities -18,705,995 6,680,656 -380.00%Mainly due to the decreased cash received from disposal of investments Net cash flows from financing activities -1,171,191 -27,666,525 95.77%Mainly due to the increased cash received from borrowings Net increase in cash and cash equivalents 9,944,675 6,662,307 49.27%Mainly due to the increased net cash flows from financing activities 2.Shareholder information 2.1 Total number of common shareholders and preference shareholders with resumed voting rights,as well as shareholdings of the top ten shareholders at the period-end Unit:share Interim Report for the Third Quarter 2022 of Midea Group Co.,Ltd.5 Total number of common shareholders at the period-end 436,153 Total number of preference shareholders with resumed voting rights at the period-end(if any)0 Top 10 shareholders Name of shareholder Nature of shareholder Shareholding percentage(%)Number of shares held Number of restricted shares held Shares in pledge or frozen Status Shares Midea Holding Co.,Ltd.Domestic non-state-owned corporation 30.98 2,169,178,713 In pledge 100,000,000 Hong Kong Securities Clearing Company Limited Foreign corporation 18.22 1,275,263,264 -China Securities Finance Co.,Ltd.Domestic non-state-owned corporation 2.83 198,145,134 -Fang Hongbo Domestic individual 1.67 116,990,492 87,742,869-Central Huijin Asset Management Ltd.State-owned corporation 1.26 88,260,460 -Huang Jian Domestic individual 1.23 86,140,000 -Canada Pension Plan Investment Board own funds(stock exchange)Foreign corporation 0.88 61,913,903 -Li Jianwei Foreign individual 0.66 46,154,545 -Yuan Liqun Domestic individual 0.57 40,168,097 -Huang Xiaoxiang Domestic individual 0.54 37,835,332 In pledge 23,499,363 Top 10 non-restricted shareholders Name of shareholder Number of non-restricted shares held at the period-end Type of shares Type Shares Midea Holding Co.,Ltd.2,169,178,713 RMB common stock 2,169,178,713 Hong Kong Securities Clearing Company Limited 1,275,263,264 RMB common stock 1,275,263,264 China Securities Finance Co.,Ltd.198,145,134 RMB common stock 198,145,134 Central Huijin Asset Management Ltd.88,260,460 RMB common stock 88,260,460 Huang Jian 86,140,000 RMB common stock 86,140,000 Canada Pension Plan Investment Board own funds(stock exchange)61,913,903 RMB common stock 61,913,903 Li Jianwei 46,154,545 RMB common stock 46,154,545 Yuan Liqun 40,168,097 RMB common stock 40,168,097 Huang Xiaoxiang 37,835,332 RMB common stock 37,835,332 Temasek Fullerton Alpha Pte Ltd 37,417,918 RMB common stock 37,417,918 Explanation of related relationship or/and acting-in-N/A Interim Report for the Third Quarter 2022 of Midea Group Co.,Ltd.6 concert parties among the above-mentioned shareholders Explanation on the top 10 common shareholders participating in securities margin trading The Companys shareholder Yuan Liqun holds 560,000 shares in the Company through her common securities account and 39,608,097 shares in the Company through her account of collateral securities for margin trading,representing a total holding of 40,168,097 shares in the Company.The Companys shareholder Huang Xiaoxiang holds 29,435,332 shares in the Company through his common securities account and 8,400,000 shares in the Company through his account of collateral securities for margin trading,representing a total holding of 37,835,332 shares in the Company.Note:144,248,028 shares(or 2.06%of the Companys total share capital)were held in the special account for repurchased shares of Midea Group Co.,Ltd.at the end of the Reporting Period.2.2 Total number of preference shareholders and shareholdings of the top 10 preference shareholders at the period-end Applicable N/A 3.Other significant events Applicable N/A Interim Report for the Third Quarter 2022 of Midea Group Co.,Ltd.7 4.Financial statements 4.1 Financial statements Consolidated and Company Balance Sheets Prepared by Midea Group Co.Ltd.As at 30 September 2022 Unit:RMB000 ASSETS 30 September 2022 31 December 2021 30 September 2022 31 December 2021 Consolidated Consolidated Company Company Current assets:Cash at bank and on hand 63,154,762 71,875,556 35,103,863 48,153,997 Financial assets held for trading 3,521,607 5,879,202 267,712 3,442,317 Derivative financial assets 734,757 545,865 413,449 157,501 Notes receivable 6,055,187 4,784,914 -Accounts receivable 31,431,007 24,636,440 -Receivables financing 12,916,309 10,273,552 -Advances to suppliers 4,168,971 4,352,807 43,416 106,838 Contract assets 4,244,361 3,823,476 -Loans and advances 12,965,148 20,656,600 -Other receivables 2,135,800 3,104,065 24,924,954 31,447,849 Inventories 36,554,195 45,924,439 -Current portion of non-current assets 40,335,141 19,851,577 37,153,183 19,095,262 Other current assets 51,672,375 33,156,012 35,310,757 11,713,182 Total current assets 269,889,620 248,864,505 133,217,334 114,116,946 Non-current assets:Other debt investments 10,703,172 7,893,935 5,892,185 6,034,563 Long-term receivables 829,750 871,356 -Loans and advances 1,110,128 851,927 -Long-term equity investments 4,002,775 3,796,705 72,385,336 66,805,691 Investments in other equity instruments 43,377 45,747 -Other non-current financial assets 6,977,348 5,912,873 291,884 537,214 Investment properties 815,637 859,195 397,383 428,460 Fixed assets 24,084,306 22,852,848 595,856 661,692 Construction in progress 3,988,108 2,690,930 1,066,366 800,243 Right-of-use assets 2,214,885 2,297,354 9,547 2,585 Intangible assets 16,584,060 17,173,072 657,279 669,158 Goodwill 27,075,391 27,874,752 -Long-term prepaid expenses 1,464,886 1,394,240 88,818 79,799 Deferred tax assets 9,614,936 8,192,309 241,765 289,964 Other non-current assets 38,054,697 36,374,356 35,774,548 33,023,304 Total non-current assets 147,563,456 139,081,599 117,400,967 109,332,673 TOTAL ASSETS 417,453,076 387,946,104 250,618,301 223,449,619 Interim Report for the Third Quarter 2022 of Midea Group Co.,Ltd.8 Consolidated and Company Balance Sheets(Contd)Prepared by Midea Group Co.Ltd.As at 30 September 2022 Unit:RMB000 LIABILITIES AND SHAREHOLDERS EQUITY 30 September 2022 31 December 2021 30 September 2022 31 December 2021 Consolidated Consolidated Company Company Current liabilities:Short-term borrowings 8,758,645 5,381,623 -Loans with the Central Bank -178,878 -Customer deposits and deposits from banks and other financial institutions 87,260 78,180 -Financial liabilities held for trading 1,618,289 -Derivative financial liabilities 369,139 157,602 -Notes payable 28,290,679 32,752,007 -Accounts payable 61,617,766 65,983,559 -Contract liabilities 24,166,174 23,916,595 -Employee benefits payable 5,954,020 7,535,168 96,585 420,536 Taxes payable 3,951,826 5,404,267 584,018 1,184,813 Other payables 4,458,475 4,288,104 170,786,202 151,450,555 Current portion of non-current liabilities 1,691,493 28,947,540 96,523 92,647 Other current liabilities 58,858,965 48,227,953 4,068,114 35,932 Total current liabilities 199,822,731 222,851,476 175,631,442 153,184,483 Non-current liabilities:Long-term borrowings 55,483,504 19,734,020 21,420,000 12,509,900 Bonds payable 3,201,337 -Lease liabilities 1,507,826 1,533,552 4,089 -Provisions 316,906 310,571 -Deferred income 1,742,904 1,228,459 154,015 154,015 Long-term employee benefits payable 1,402,168 1,825,016 -Deferred tax liabilities 4,424,577 4,950,245 13,793 17,028 Other non-current liabilities 687,709 687,689 -Total non-current liabilities 68,766,931 30,269,552 21,591,897 12,680,943 Total liabilities 268,589,662 253,121,028 197,223,339 165,865,426 Shareholders equity:Share capital 7,000,783 6,986,564 7,000,783 6,986,564 Capital surplus 20,915,271 20,516,930 28,406,867 27,105,153 Less:Treasury stock(15,225,644)(14,044,550)(15,225,644)(14,044,550)Other comprehensive income 573,069(1,758,948)(2,457)(7,295)General risk reserve 655,391 719,922 -Special reserve 17,108 15,542 -Surplus reserve 9,449,901 9,449,901 9,449,901 9,449,901 Undistributed profits 115,845,990 102,982,763 23,765,512 28,094,420 Total equity attributable to shareholde